Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 15,100 Shares of Brown & Brown, Inc. (NYSE:BRO)

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Brown & Brown, Inc. (NYSE:BRO) by 20.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,443 shares of the financial services provider’s stock after purchasing an additional 15,100 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Brown & Brown were worth $9,023,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Brooklyn Investment Group bought a new position in shares of Brown & Brown during the 3rd quarter valued at about $26,000. Ashton Thomas Securities LLC bought a new position in shares of Brown & Brown during the 3rd quarter valued at about $29,000. Y.D. More Investments Ltd raised its position in Brown & Brown by 122.7% in the 4th quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider’s stock valued at $30,000 after buying an additional 162 shares during the last quarter. R Squared Ltd acquired a new stake in Brown & Brown in the 4th quarter valued at approximately $31,000. Finally, Versant Capital Management Inc raised its position in Brown & Brown by 130.7% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the financial services provider’s stock valued at $42,000 after buying an additional 234 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Brown & Brown Stock Performance

Shares of NYSE BRO opened at $111.65 on Monday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 12 month low of $80.33 and a 12 month high of $114.15. The stock has a 50 day moving average of $105.28 and a 200-day moving average of $105.54. The company has a market capitalization of $31.92 billion, a P/E ratio of 32.27, a P/E/G ratio of 2.93 and a beta of 0.86.

Brown & Brown (NYSE:BRO) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.76 by $0.10. Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. As a group, equities research analysts predict that Brown & Brown, Inc. will post 4.18 EPS for the current year.

Brown & Brown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, February 5th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. Brown & Brown’s dividend payout ratio is currently 17.34%.

Wall Street Analysts Forecast Growth

BRO has been the topic of a number of recent research reports. StockNews.com lowered Brown & Brown from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Truist Financial lifted their target price on Brown & Brown from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods dropped their target price on Brown & Brown from $99.00 to $97.00 and set an “underperform” rating on the stock in a research report on Friday, January 10th. Royal Bank of Canada lifted their target price on Brown & Brown from $118.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Barclays lifted their target price on Brown & Brown from $108.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Brown & Brown has a consensus rating of “Hold” and an average target price of $113.17.

About Brown & Brown

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.